Are you a woman who wants to pursue an MBA degree but are worried about the cost? If yes, then you are not alone. Many women face financial barriers when it comes to pursuing higher education, especially in the field of business.
According to a report by the Graduate Management Admission Council (GMAC), women make up only 39% of full-time MBA students at the world’s top-ranked business schools. One of the reasons for this gender gap is the lack of funding opportunities for women.
Fortunately, there are many MBA scholarships for women that can help you achieve your dream of becoming a business leader. These scholarships are offered by various institutions, such as business schools, organizations, foundations, and corporations. They aim to promote gender diversity in business education and empower women to make an impact in business and society.
In this article, we will list some of the best MBA scholarships for women that are available right now. We will also provide some tips on how to apply for them and increase your chances of winning them.
These scholarships, each valued at $10,000 or more, aim to empower aspiring women leaders and provide them with the financial support needed to excel in their MBA studies.
What are the benefits of MBA scholarships for women?
MBA scholarships for women have many benefits, such as:
- They reduce the financial burden of pursuing an MBA degree, which can be very expensive. According to GMAC, the average tuition fee for a two-year full-time MBA program in 2021 was $62,000 in the US and $49,000 in Europe.
- They help you avoid taking loans or accumulating debt, which can affect your future financial stability and career choices.
- They enhance your resume and personal brand, as they show your academic excellence, leadership potential, and social impact.
- They connect you with a network of fellow women in business, who can offer you support, mentorship, and opportunities.
- They boost your confidence and motivation, as they recognize your achievements and aspirations.
How to apply for MBA scholarships for women?
Applying for MBA scholarships for women can be a competitive and challenging process. However, with some preparation and strategy, you can increase your chances of winning them. Here are some tips on how to apply for MBA scholarships for women:
- Start your research early: There are many MBA scholarships for women out there, but they have different eligibility criteria, deadlines, and application requirements. You need to find out which ones suit your profile and goals and plan ahead accordingly.
- Check the requirements carefully: Each scholarship has its own specific requirements, such as academic qualifications, work experience, GMAT score, essays, letters of recommendation, etc. You need to make sure you meet all the requirements before applying.
- Write compelling essays: Essays are one of the most important parts of your scholarship application, as they showcase your personality, achievements, goals, and fit with the scholarship provider. You need to write clear, concise, and persuasive essays that highlight your strengths and uniqueness.
- Get strong letters of recommendation: Letters of recommendation are another crucial part of your scholarship application, as they provide an external validation of your skills and potential. You need to ask for letters from people who know you well and can speak positively about your academic performance, professional achievements, leadership qualities, and social impact.
- Prepare for interviews: Some scholarships may require you to attend an interview with the scholarship committee or panel. You need to prepare well for the interview by researching the scholarship provider, reviewing your application materials, practicing common questions, and dressing professionally.
- Apply to multiple scholarships: Applying to multiple scholarships can increase your chances of winning at least one of them. However, you should not apply to every scholarship you find. You should focus on quality over quantity and only apply to scholarships that match your profile and goals.
What are the top 10 MBA scholarships for women?
There are many MBA scholarships for women available right now, but we have selected some of the best ones based on their value, reputation, and impact. Here are the top 10 MBA scholarships for women that you should consider applying for:
1. Forté Foundation Fellowships
- Award Amount: Varies (some awards exceed $10,000)
- Deadline: Varies by school
- Website: fortefoundation.org
The Forté Foundation is a non-profit organization that aims to increase the number of women in business leadership roles. The Forté Foundation offers fellowships to outstanding women who are admitted to its partner business schools. The fellowships range from $10,000 to full tuition fees per year.
To apply for the Forté Foundation fellowships, you need to submit your MBA application to one of the partner schools and indicate your interest in the fellowship. The partner schools will then nominate candidates for the fellowship based on their academic excellence, leadership potential, and commitment to advancing women in business.
2. 30% Club Scholarships
- Award Amount: Varies (some awards exceed 50%)
- Deadline: Varies by school
- Website: 30percentclub.org
The 30% Club is a global campaign that advocates for more women on boards and in senior management positions. The 30% Club offers scholarships to women who are admitted to its partner business schools. The scholarships cover up to 50% of tuition fees per year.
To apply for the 30% Club scholarships, you need to submit your MBA application to one of the partner schools and indicate your interest in the scholarship. The partner schools will then select candidates for the scholarship based on their academic merit, leadership potential, and contribution to gender diversity in business.
3. INSEAD Women’s Scholarships
- Award Amount: Varies (some awards exceed $28,000)
- Deadline: Varies by school
- Website: insead.edu
INSEAD is one of the world’s leading business schools, ranked as the best MBA program by the Financial Times in 2021. INSEAD offers several scholarships exclusively for women who are admitted to its MBA program. The scholarships vary in value, but some of them are worth up to $28,000 per year.
To apply for the INSEAD women’s scholarships, you need to submit your MBA application to INSEAD and complete a separate scholarship application form. The scholarships have different eligibility criteria and essay questions, but they generally look for women who demonstrate academic excellence, leadership potential, and social impact.
4. Chicago Booth Women’s Scholarships
- Award Amount: Varies (some awards exceed $20,000)
- Deadline: Varies by school
- Website: chicagobooth.edu
The Chicago Booth School of Business is one of the top-ranked business schools in the world, known for its rigorous and analytical approach to business education. Chicago Booth offers several scholarships for women who are admitted to its MBA program. One of them is the Wallman Fellowship, which covers full tuition fees per year and is awarded to women who show outstanding leadership and a commitment to advancing women in business.
To apply for the Chicago Booth women’s scholarships, you need to submit your MBA application to Chicago Booth and indicate your interest in the scholarships. Chicago Booth will then select candidates for the scholarships based on their academic merit, professional achievements, and fit with the school’s culture and values.
5. The C200 Scholar Award
- Award Amount: $10,000 or more
- Deadline: Varies
- Website: c200.org
The C200 Scholar Award, a prestigious accolade, celebrates exceptional women MBA students who demonstrate leadership potential and a dedication to advancing women in business. With an award amount of $10,000 or more, recipients are selected based on their academic achievements, leadership skills, and involvement in their communities.
6. AAUW Career Development Grants
- Award Amount: $2,000 to $12,000
- Deadline: November (subject to change)
- Website: aauw.org
The American Association of University Women (AAUW) provides Career Development Grants to women pursuing professional development or graduate studies. These grants, ranging from $2,000 to $12,000, are awarded based on financial need, career goals, and community service involvement.
7. Nancy Fojtik Strader Women in Finance Scholarship
- Award Amount: $10,000 or more
- Deadline: Varies
- Website: c200.org
The Nancy Fojtik Strader Women in Finance Scholarship, administered by the C200 Foundation, supports women pursuing an MBA with a focus on finance. Offering $10,000 or more to recipients, this scholarship seeks candidates who display academic excellence, leadership potential, and a strong commitment to a finance-oriented career.
8. P.E.O. International Peace Scholarship for Women
- Award Amount: Up to $12,500
- Deadline: December (subject to change)
- Website: peointernational.org
The P.E.O. International Peace Scholarship assists women from other countries in pursuing graduate studies in the United States and Canada. With a maximum award amount of $12,500, this scholarship requires applicants to demonstrate financial need and be enrolled in a full-time program.
9. Zonta International Jane M. Klausman Women in Business Scholarship
- Award Amount: $8,000 (local level) and $10,000 (international level)
- Deadline: Varies by local Zonta club
- Website: zonta.org
The Jane M. Klausman Women in Business Scholarship, awarded at both the local and international levels, supports women pursuing undergraduate or master’s degrees in business management. Applicants must be enrolled in an accredited business program and exhibit exceptional potential in the field.
10. CEIBS Women Leadership Scholarships
- Award Amount: Varies (some awards exceed $7,000)
- Deadline: Varies by school
- Website: ceibs.edu
The China Europe International Business School (CEIBS) is one of the leading business schools in Asia, offering a globally recognized MBA program. CEIBS offers several scholarships for women who are admitted to its MBA program. One of them is the Women Leadership Scholarship, which covers up to 50% of tuition fees per year and is awarded to women who demonstrate strong leadership skills and potential.
To apply for the CEIBS women’s leadership scholarships, you need to submit your MBA application to CEIBS and complete a separate scholarship application form. CEIBS will then select candidates for the scholarships based on their academic performance, professional experience, leadership qualities, and contribution to diversity and inclusion.
11. UCLA Anderson Women’s Scholarships
- Award Amount: $10,000 or more
- Deadline: Varies by school
- Website: anderson.ucla.edu
The UCLA Anderson School of Management is one of the top business schools in the US, offering a flexible and innovative MBA program. UCLA Anderson offers several scholarships for women who are admitted to its MBA program. One of them is the International Peace Scholarship, which provides $10,000 per year to female international students who want to study at UCLA Anderson.
To apply for the UCLA Anderson women’s scholarships, you need to submit your MBA application to UCLA Anderson and indicate your interest in the scholarships. UCLA Anderson will then select candidates for the scholarships based on their academic excellence, professional accomplishments, leadership potential, and fit with the school’s mission and vision.
12. London Business School Women’s Scholarships
- Award Amount: $20,000 or more
- Deadline: Varies by school
- Website: london.edu
London Business School (LBS) is one of the top business schools in Europe, offering a diverse and global MBA program. LBS offers several scholarships for women who are admitted to its MBA program. One of them is the LBS Sloan Women’s Scholarship, which covers full tuition fees per year and is awarded to female executives who want to pursue the LBS Sloan Masters in Leadership and Strategy.
To apply for the LBS women’s scholarships, you need to submit your MBA application to LBS and complete a separate scholarship application form. LBS will then select candidates for the scholarships based on their academic credentials, professional achievements, leadership potential, and fit with the school’s culture and values.
13. Wharton Women’s Scholarships
- Award Amount: $20,000 or more
- Deadline: Varies by school
- Website: mba.wharton.upenn.edu
The Wharton School of Business is one of the oldest and most prestigious business schools in the world, offering a comprehensive and rigorous MBA program. Wharton offers several scholarships for women who are admitted to its MBA program. One of them is the Wharton Women Fellowship Program (WWFP), which provides $20,000 per year to female students who demonstrate exceptional leadership skills and potential.
To apply for the Wharton women’s scholarships, you need to submit your MBA application to Wharton and indicate your interest in the scholarships. Wharton will then select candidates for the scholarships based on their academic merit, professional excellence, leadership potential, and fit with the school’s community and values.
14. Stanford Women’s Scholarships
- Award Amount: $1,000 or more
- Deadline: Varies by school
- Website: gsb.stanford.edu
The Stanford Graduate School of Business (GSB) is one of the most selective and innovative business schools in the world, offering a personalized and experiential MBA program. Stanford GSB offers several scholarships for women who are admitted to its MBA program. One of them is the Stanford Africa MBA Fellowship, which covers full tuition fees and associated fees for African women who want to study at Stanford GSB and return to Africa to contribute to its economic development.
To apply for the Stanford women’s scholarships, you need to submit your MBA application to Stanford GSB and complete a separate scholarship application form. Stanford GSB will then select candidates for the scholarships based on their academic achievement, professional experience, leadership potential, and social impact.
15. Harvard Women’s Scholarships
- Award Amount: $20,000 or more
- Deadline: Varies by school
- Website: hbs.edu
The Harvard Business School (HBS) is one of the most renowned and influential business schools in the world, offering a case-based and general management MBA program. HBS offers several scholarships for women who are admitted to its MBA program. One of them is the HBS Forward Fellowship, which provides up to $20,000 per year to female students who come from low-income backgrounds and have high financial needs.
To apply for the Harvard women’s scholarships, you need to submit your MBA application to HBS and complete a separate scholarship application form. HBS will then select candidates for the scholarships based on their academic performance, professional accomplishments, leadership potential, and fit with the school’s culture and values.
16. The HSF Scholarship for Women
- Award Amount: $500 to $5,000 (undergraduate) and up to $15,000 (graduate)
- Deadline: February (subject to change)
- Website: hsf.net
The Hispanic Scholarship Fund (HSF) offers scholarships to Hispanic and Latino students pursuing undergraduate or graduate degrees. Graduate students can receive awards of up to $15,000. Eligibility requirements include a minimum 2.5 GPA, Hispanic heritage, and full-time enrollment at an accredited institution.
17. The Paul & Daisy Soros Fellowships for New Americans
- Award Amount: Up to $25,000 in stipend support and 50% of required tuition and fees
- Deadline: October (subject to change)
- Website: pdsoros.org
The Paul & Daisy Soros Fellowships for New Americans provide support to immigrants and children of immigrants pursuing graduate studies in the United States. This prestigious fellowship offers up to $25,000 in stipend support and covers 50% of required tuition and fees. Applicants must be 30 years old or younger and demonstrate creativity, originality, and initiative.
18. The AICPA Foundation Two-Year Transfer Scholarship Award
- Award Amount: $5,000 (undergraduate) and up to $10,000 (graduate)
- Deadline: March (subject to change)
- Website: aicpa.org
The American Institute of Certified Public Accountants (AICPA) provides scholarships to students transferring from a two-year college to a four-year college to complete their accounting or finance-related degrees. Graduate students can receive awards of up to $10,000. Applicants must possess a minimum 3.0 GPA and demonstrate financial need.
By following these strategies and showcasing your passion, dedication, and potential, you can increase your likelihood of securing an MBA finance scholarship.
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